Fleet industry payments processor Wright Express has signed a 10-year agreement to provide private label fleet card services for oil titan and fleet cards provider ExxonMobil.
Wright Express has been providing ExxonMobil with outsourced proprietary fleet card transaction processing, marketing, and other ancillary support services since 1999. Under the terms of the new agreement, it is anticipated that Wright Express will purchase the existing ExxonMobil fleet card portfolio near the end of the year.
As the issuer of the ExxonMobil fleet card, Wright Express will continue to process the fleet card transactions and provide funding for future receivables. Wright Express will also provide private label fleet card services, including marketing services, sales, card authorization, private label credit card issuance, and online services.
We are delighted to extend our seven year relationship with ExxonMobil, said Michael Dubyak, president and CEO of Wright Express. These services will enhance ExxonMobil’s success in acquiring new customers, retaining existing customers, increasing sales, and penetrating new market segments.